Kayne Anderson Capital Advisors LP Trims Stock Holdings in ReNew Energy Global Plc (NASDAQ:RNW)

Kayne Anderson Capital Advisors LP lessened its position in shares of ReNew Energy Global Plc (NASDAQ:RNW) by 25.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 663,603 shares of the company’s stock after selling 225,228 shares during the period. Kayne Anderson Capital Advisors LP owned about 0.18% of ReNew Energy Global worth $4,532,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its holdings in ReNew Energy Global by 58.1% in the 3rd quarter. Van ECK Associates Corp now owns 12,278 shares of the company’s stock worth $72,000 after buying an additional 4,513 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of ReNew Energy Global by 33.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,118,181 shares of the company’s stock worth $7,033,000 after purchasing an additional 281,000 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of ReNew Energy Global by 454.7% in the third quarter. Quantbot Technologies LP now owns 15,788 shares of the company’s stock valued at $99,000 after buying an additional 12,942 shares in the last quarter. Rubric Capital Management LP lifted its holdings in shares of ReNew Energy Global by 1.5% during the third quarter. Rubric Capital Management LP now owns 13,706,102 shares of the company’s stock valued at $86,211,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of ReNew Energy Global by 4.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 281,126 shares of the company’s stock worth $1,768,000 after buying an additional 11,639 shares during the period. Institutional investors own 43.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm lowered their price target on ReNew Energy Global from $8.00 to $7.50 and set a “buy” rating on the stock in a report on Friday, February 21st.

ReNew Energy Global Stock Up 4.3 %

RNW opened at $6.07 on Wednesday. The company has a market capitalization of $2.20 billion, a PE ratio of 121.40 and a beta of 0.89. The business has a 50-day moving average of $6.55 and a 200-day moving average of $6.26. ReNew Energy Global Plc has a fifty-two week low of $5.15 and a fifty-two week high of $7.49. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.64.

ReNew Energy Global (NASDAQ:RNW) last posted its earnings results on Tuesday, February 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $20.22 billion. ReNew Energy Global had a net margin of 2.17% and a return on equity of 1.75%. Equities research analysts forecast that ReNew Energy Global Plc will post 0.15 EPS for the current fiscal year.

ReNew Energy Global Company Profile

ReNew Energy Global Plc generates power through non-conventional and renewable energy sources in India. The company operates through two segments: Wind Power and Solar Power. It develops, builds, owns, and operates utility scale wind and solar energy, hydro energy, and utility-scale firm power projects, as well as distributed solar energy projects that generate energy for commercial and industrial customers.